＜Research＞CLSA Slightly Cuts PICC P&C (02328.HK) TP to $11.8, Keeps Rating at Outperform

　　CLSA released a research report saying that PICC P&C (02328.HK) +0.290 (+2.938%) Short selling $57.39M; Ratio 21.998% will announce its interim results at the end of August, and expecting a 17% drop in PICC P&C's net profit, implying high single-digit growth in 2Q24.

　　CLSA forecasted the Company's 2Q24 CoR to improve YoY, mainly due to reduced concerns about the impact of natural disaster.

　　Related NewsCiti Slightly Cuts PICC P&C (02328.HK) TP to $11, Earnings Estimates Adjusted Downward

　　CLSA noted that PICC P&C's southbound holdings increased significantly amid lower onshore interest rates, and expected the trend to continue.

　　Due to investment volatility, CLSA lowered its FY2024 earnings forecast for PICC P&C, and cut its target price from $12.2 to $11.8, with rating kept at Outperform.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.)

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